Buying a Multi family unit
Hey guys I am a newbie to get this out there . I found a multi family unit , it’s located right beside a nice college . It’s 9 units , Needs no repairs , Its 100% rented out which means no vacancys
Total gross rent is 6615 a month
They owner who is retiring wants 495,000 for the property’s
My questions I don’t have a lot of cash for this deal how could I make this work ?
As always Thank you for your responds !
NF
Most Popular Reply
@Noah Farley I would recommend you read and listen to what the @Gino Barbaro and his partner Jake have created with their MFH properties. They have some creative ways to buy properties. I would start by asking the seller to hold a % to help you get in the deal. You can pay it off as the property appreciates and you go from a recourse loan to non-recourse. Gino can explain more and better details.
Congrats on the find! Best of luck to you.